Apply for Homestead/Farmstead Exclusion
What is the Homestead or Farmstead Exclusion?
The Taxpayer Relief Act of 2006 provides for property tax reduction allocations to be distributed by the Commonwealth to each school district through a homestead or farmstead exclusion.
The homestead exemption allows you to save on property taxes by allowing the district to exclude a portion of your home’s value from assessment.
Who is eligible for the homestead or farmstead exclusion?
Property owners must prove that the property in Towamencin Township is the primary residence. Commercial and rental properties do not qualify for the program. To take part in the Homestead Exclusion, property owners must register with Montgomery County by Dec. 15 for the next tax year.
Why didn’t I get the Homestead or Farmstead Exclusion in my tax bill this year?
The exclusion is calculated automatically. If you are eligible, it is automatically billed into the tax bill, but only affects the next round of taxes. If you received approval this tax year, then you can expect to see it next year.
Do I need to re-apply for the exclusion every year?
No. The property remains in the Homestead Exclusion program unless its status changes, such as through a sale or if it becomes a rental property. The new owner would then have to re-apply to the program.
Please contact the tax office for more details on the homestead and farmstead exclusion.
What are the homestead and farmstead exclusion amounts for North Penn School District?
You can find out more about the school district’s Homestead and Farmstead Exclusions at this link.
You can find Homestead Application, Homestead Removal and other Exemption forms on the Montgomery County Board of Assessment Appeals website at this link.
Did You Know?
From 2002 to 2014, the Homestead Exclusion amount in Towamencin Township was $59,000.